Military Pay and Retirement Reform Act of 1999

[AI summary unavailable — showing source text] Military Pay and Retirement Reform Act of 1999 - Waives during FY 2000 any required adjustment in the rates of monthly military basic pay in conformance with the General Schedule of the Federal Government. Increases such pay by 4.4 percent, effective on January 1, 2000. Provides an increase in such pay as of July 1, 2000, for officers and enlisted personnel within specified pay grades. Repeals a Federal provision which provides a formula reduction in the retired pay of military personnel who first become members after July 31, 1986, and had creditable military service of less than 30 years. Directs the Secretary of Defense to increase the annual retired pay of such members under a revised formula which takes into account annual cost-of-living increases.…